Welcome to the captivating world of SP500 technical analysis, where we unlock the secrets of the market using Elliott Wave Theory. Join us on this journey as we delve into the latest insights and trends shaping today’s trading session.

SP500 Technical Analysis

In our SP500 technical analysis using Elliott Wave Theory the market gave us one of those pullbacks we’ve been talking about. It finally broke support and once it did it was strong selling from the bears. Now we look for a bounce back to the 5000-5020 region in a B wave before resuming the down trend toward the FED lows. From that area we would look for another rally to new ATHs to potentially give us a longer term top.

However, if the bears break Monday’s low directly it would lead to a direct test of the 4860 area.

NASDAQ Technical Analysis

Shifting our attention to the NASDAQ, using Elliott Wave Theory the NQ also broke support and gave us a strong pullback. We now look for a potential B wave back towards the 17800-900 area then a resumption of the down trend to test the FED lows. From there we look for one more push higher.

As we continue our journey through SP500 and NASDAQ technical analysis, guided by the powerful Elliott Wave Theory, our goal is to keep you well-informed about the market’s ever-evolving trends and the abundant opportunities it offers. Think of it as having a trusty compass in the vast sea of trading, helping you navigate through the dynamic landscape of today’s financial markets.

So, stay tuned for more updates and insights, and may your trading journey be as thrilling as the markets themselves.